Take-Two loss deepens on sales decline
(4:08 PM ET) SAN FRANCISCO (MarketWatch) -- Take-Two Interactive Software saw its net losses grow amid a drop in sales for its first fiscal quarter. For the quarter ended Jan. 31, the video game publisher /zigman2/quotes/204008930/composite TTWO +1.30% reported a net loss of $38 million, or 52 cents a share, compared to a loss of $21.5 million, or 30 cents a share, for the same period last year.On a non-GAAP basis, the company said losses would have been $30.3 million, or 41 cents per share, for the recent quarter. Revenue fell 13% to $240.4 million. Analysts were looking for a loss of 49 cents a share on revenue of $211 million, according to FactSet Research.
Thornburg jumps; company works with lenders on margin calls
(9:33 AM ET) SAN FRANCISCO (MarketWatch) -- Thornburg Mortgageshares more than doubled on Tuesday after the company said it's working with lenders to meet current margin calls within a satisfactory timeframe, without having to sell assets at a big loss. The company also disclosed another impairment charge of $248.8 million for 2007, bringing total impairment charges from last year to $676.6 million. Thornburg said it took the charges because it may not be able to hold some of its adjustable-rate mortgage until they mature. Disruptions in the mortgage market have hit the market value of Thornburg's home loans, even though the company says delinquencies and foreclosures in the portfolio remain well below the industry average. "Our immediate challenge is meeting margin calls from our lenders that have been brought on by the dramatic decline in high quality mortgage-backed securities prices," Larry Goldstone, chief executive of Thornburg, said in a statement. Thornburg shares opened at $1.45, more than doubling from Monday's close. The Federal Reserve's latest efforts to inject more cash into the financial system also help buoy mortgage-related stocks.
Kroger's fourth-quarter profit falls
(9:00 AM ET) NEW YORK (MarketWatch) -- Kroger Co. /zigman2/quotes/206215053/composite KR +0.92% said Tuesday that its fourth-quarter earnings fell to $322.9 million, or 48 cents a share, from the year-earlier $384.8 million, or 54 cents a share. On average, analysts polled by FactSet expected earnings of 47 cents a share. The Cincinnati supermarket chain said sales for the quarter ended Feb. 2 rose to $17.2 billion from $16.9 billion a year earlier. Sales in supermarkets open at least a year increased 8.2% with fuel and 5.3% without fuel. For 2008, Kroger expects earnings of $1.83 to $1.90 a share and same-store-sales growth of 3% to 5%, excluding fuel sales. Shares of Kroger closed Monday at $25.32.
John Wiley 3rd-period net 67c; Blackwell outlook raised
(8:56 AM ET) TEL AVIV (MarketWatch) -- John Wiley & Sons Inc., /zigman2/quotes/200599719/composite JW.A -0.22% the Hoboken, N.J., publisher, reported that fiscal third-quarter net income was 67 cents a share and adjusted share earnings rose 7% to 59 cents. The February 2007 acquisition of Blackwell Publishing added 9 cents a share to earnings, Wiley said. Revenue rose 45% to $429 million; excluding Blackwell, revenue rose 6% for the quarter, which ended Jan. 31. For fiscal 2008, the company expects earnings per share excluding Blackwell to grow in the low-double-digits percent and revenue to rise in the mid-single digits. The company increased the contribution from Blackwell that it expects for fiscal 2008, to earnings of at least 20 cents a share and revenue approximating $470 million.
Piedmont Natural Gas first-quarter net up 16%
(8:41 AM ET) NEW YORK (MarketWatch) -- Piedmont Natural Gas Co.said Tuesday that fiscal first-quarter net income rose 16% to $82.3 million, or $1.12 a share, from $70.7 million, or 94 cents, a year earlier. The Charlotte energy company's revenue rose 16% to $788.5 million from $677.2 million a year ago. On average, analysts polled by Thomson Financial expected earnings of 97 cents a share. Piedmont affirmed its 2008 earnings outlook of $1.45 to $1.55 a share. On average, analysts polled by Thomson Financial expect 2008 earnings of $1.50 a share.
Bon-Ton posts lower fourth-quarter profit
(8:17 AM ET) NEW YORK (MarketWatch) -- Bon-Ton Stores Inc.said Tuesday that its fourth-quarter net income fell to $75.2 million, or $4.43 a share, from $88.4 million, or $5.20 a share, a year earlier. The latest period's results were hurt in part by a pretax asset-impairment charge of $4.1 million. The York, Pa., department-store operator said that sales for the 13-week period ended Feb. 2 dropped 8.9% to $1.14 billion from $1.25 billion a year ago. Bon-Ton and Carson's combined same-store sales in the same period decreased 3.6%. The company now sees fiscal 2008 earnings of 20 cents to 45 cents a share and same-store sales to be down 1% to 2%.
GigaMedia reports 8% profit rise
(6:48 AM ET) LONDON (MarketWatch) -- Chinese poker software firm GigaMedia /zigman2/quotes/204964238/composite GIGM -0.35% said fourth-quarter net income rose 8% to $10.7 million, or 18 cents a share, with revenue up 59% to $47.7 million. Excluding non-cash share-based compensation expenses, and it would've earned 19 cents a share. Analysts polled by FactSet expected earnings of 18 cents a share on revenue of $47.4 million.
Duff & Phelps posts loss; quarterly revenue grows nearly 22%
(6:44 AM ET) WASHINGTON (MarketWatch) -- Duff & Phelps Corp.reported a fourth-quarter loss of nearly $6.4 million, or 49 cents a share. Quarterly revenue reached $92.7 million from the prior year's $76.2 million. The results represent the first for Duff & Phelps, a New York-based provider of financial-advisory and investment-banking services, since completing its initial public offering early last October.